The Devaluation of Rupee
                                            The Rupee is being devalued periodically officially or unofficially.  It is very painful journey for the Rupee. The Rupee was strong when India became independent. India was owning considerable amount  from England as a war debt and our foreign exchange position was  satisfactory.
                                            India being developing country our foreign exchange position become very picarious. Besides that our import is always higher side in comparison the export which has deteriorated the  Foreign Exchange position. Indian economy is being further damaged due to the illegal financial transactions and smuggling. The value of Rupee was  21.14 in the  June 1991 against One Dollar which has now gone down up to Rs 67.62 against One dollar. It shows that Rupee value is going down  periodically.
                                             The Foreign Exchange position of India was $1.12 Billion Dollars on the  30th June 1991 which was very crucial. Hence rupee had to be devalued from 9 % to11% in the July 1991. The foreign exchange reserve was so low that it could meet hardly two month Imports. Besides that India was not in position pay installments of borrowed loans.
                                              However the economical position was improved by then Prime Minister Narashirao by loosening of permit and licence system and opening the Indian market for Outsider.  The export of software services has also further improved  the foreign exchange position up to $ 339.54 Billion.
                                              The rupee is loosing its value against dollars as India has failed take corrective steps. India has made progress in the industrial sector but it has not given due attention to the Agriculture Sector.  The agriculture Sector is very vital for India as it is its main area of activities. India has been announcing several schemes in developing the agriculture but it has remains on paper or lacking in its implementation. The value of Indian Rupee and including Indian economy can be further strengthen if agriculture sector is given due priority. In short industrial and agriculture sectors should be improved simultaneously.
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